Bump Pay Allows You to Transfer Money to a Friend with a Tap of the Phones

Now you can get paid or pay a friend back on the spot with this new feature called Bump Pay made for iPhones and Androids. Once a feature on an app, Bump is now stepping out to launch a standalone app.

Bump Pay makes it easy so you don't have to run to the bank and waste time, as it lets you pay someone by tapping both phones together. All there is to it is typing in the amount you'd like to transfer; the money is then sent through PayPal, where they take care of the rest of the process. There are no fees for Bump Pay, which is sort of ironic considering its purpose.

"We think of Bump Pay as solving a specific problem — helping people repay each other in person after having dinner or after paying for gas on a road trip, " says Dave Lieb, CEO of Bump.